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Note 14 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

		Year Ended December 31,
(Amounts in thousands)		2024				2023				2022
Current tax expense:
Federal		$	11,070			$	11,055			$	9,883
State			1,173				1,553				1,648
Total current tax expense			12,243				12,608				11,531
Deferred tax expense:
Federal			1,624				1,166				1,800
State			223				180				164
Total deferred tax expense			1,847				1,346				1,964
Total income tax expense		$	14,090			$	13,954			$	13,495

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

		Year Ended December 31,
		2024								2023								2022
		Amount				Percent				Amount				Percent				Amount				Percent
(Amounts in thousands)
Federal income tax at the statutory rate		$	13,796				21.00	%		$	13,014				21.00	%		$	12,633				21.00	%
State income tax, net of federal benefit			1,102				1.68	%			1,368				2.21	%			1,432				2.38	%
			14,898				22.68	%			14,382				23.21	%			14,065				23.38	%
Increase (decrease) resulting from:
Tax-exempt interest income			(351	)			(0.54	)%			(348	)			(0.56	)%			(347	)			(0.58	)%
Excess tax benefits			(104	)			(0.16	)%			(25	)			(0.04	)%			(24	)			(0.04	)%
Bank owned life insurance			(227	)			(0.35	)%			(167	)			(0.27	)%			(68	)			(0.11	)%
Other items, net			(126	)			(0.19	)%			112				0.17	%			(131	)			(0.22	)%
Income tax at the effective tax rate		$	14,090				21.44	%		$	13,954				22.51	%		$	13,495				22.43	%

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

		December 31,
(Amounts in thousands)		2024				2023
Deferred tax assets
Allowance for credit losses		$	8,193			$	8,523
Unrealized losses on available-for-sale securities			3,116				2,958
Unrealized asset losses			329				420
FDIC assisted transactions			333				346
Deferred loan fees			3,978				4,674
Deferred compensation assets			6,918				6,316
Federal net operating loss carryforward			—				266
Lease liability			121				146
Accrued litigation			83				824
Other			1,200				831
Total deferred tax assets			24,271				25,304
Deferred tax liabilities
Fixed assets			(1,332	)			(939	)
Intangible assets			(4,671	)			(4,303	)
Odd days interest deferral			(3,874	)			(4,134	)
Purchase accounting			(31	)			(81	)
Right of use asset			(115	)			(140	)
Other			(1,197	)			(869	)
Total deferred tax liabilities			(11,220	)			(10,466	)
Net deferred tax asset		$	13,051			$	14,838

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

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-Topic 740
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-Section 50
-Paragraph 9
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+ References

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